Texas House Bill HB652

Texas 2009 - 81st Regular

• Out of House Committee: 4/1/09
• Voted on by House: 4/9/09
• Out of Senate Committee: 5/6/09
• Voted on by Senate: 5/13/09
• Governor Action: 5/26/09
• Enrolled: 5/18/09
• Passed: 5/26/09

Caption

Relating to licensing of escrow officers.

Impact

The implications of HB 652 are significant in shaping the standards for licensing escrow officers in Texas. By establishing clearer definitions of who qualifies for licensing and specifying the necessary experience and employment conditions, the bill seeks to enhance consumer protection. Furthermore, it sets a structured disciplinary framework for those who may violate licensing regulations, thereby reinforcing trust in the transactions involving title insurance and escrow services.

Summary

House Bill 652 addresses the licensing requirements for escrow officers in Texas. It specifically amends provisions of the Insurance Code to clarify the criteria that must be met for an individual to be licensed as an escrow officer. This includes requirements related to residency, experience, and employment with licensed title agents or attorneys. The bill aims to ensure that only qualified individuals practice as escrow officers, thereby fostering integrity and professionalism within the title insurance industry.

Contention

One notable point of contention may arise regarding the fine line drawn around the residency requirements. The bill states that individuals must be bona fide residents of Texas or neighboring states to obtain licensing. This could limit access for individuals from further regions, potentially leading to debates on the adequacy of workforce availability and competition in the escrow officer market. The bill has provisions to deny licenses based on various transgressions such as fraud or misrepresentation, which emphasize the need for ethical practices within the industry.